Which of the following is an example of an unintended consequence?
a. government sponsored ad campaigns that lead to an increase in vaccinations
b. rent controls that lead to a decline in the quality of rental properties
c. higher property taxes that allow for better public schools
d. increased airport security measures that result in safer travel
b
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In a repeated prisoner's dilemma, players:
A. can sustain cooperation by employing a tit-for-tat strategy. B. always play their dominant strategy. C. never learn to play their dominant strategies. D. can sustain cooperation by playing their dominant strategy.
All of the following are likely results of a negative demand shock EXCEPT
A) a negative output gap. B) lower inflation. C) IS shifts to the left. D) Phillips curve shifts to the left.
The speed with which money circulates through the economy is called the
a. oversimplified multiplier. b. velocity of circulation. c. exchange rate. d. money multiplier.
Realization of gains from trade, entrepreneurial discovery, and investment are largely dependent on
What will be an ideal response?